Common use of COMMISSIONS PAYABLE Clause in Contracts

COMMISSIONS PAYABLE. Commissions payable in connection with the Contracts shall be paid to BD according to the Commission Schedule(s) relating to this Agreement as they may be amended from time to time and in effect at the time the purchase payment on the Contracts (the "Contract Payments") are received by UILIC. MAP reserves the right to: revise the Commission Schedules at any time upon at least thirty (30) days prior written notice to BD; and offset future compensation payable to BD against any compensation duly owing to UILIC, MAP, or MAPI by BD. Compensation to the BD's Representatives for Contracts solicited by the Representatives and issued by UILIC will be governed by agreement between BD and its Representatives and its payment will be the BD's sole responsibility. In those states where express assignment of commissions is required, BD hereby assigns its representatives' commission to its affiliated insurance agency for those states. BD will not pay any compensation to an agent licensed pursuant to this Agreement until such agent is authorized to receive such compensation under applicable state laws.

COMMISSIONS PAYABLE. Commissions payable in connection with the Contracts contracts shall be paid to BD according to the Commission Schedule(s) relating to this Agreement as they may be amended from time to time and in effect at the time the purchase payment on the Contracts (the "Contract Payments") Payments are received by UILICONL. MAP ONL reserves the right to: revise the Commission Schedules at any time upon at least thirty (30) days prior written notice to BDBD;adjust the compensation payable on sales of ONL products that replace existing ONL contracts; and offset future compensation payable to BD against any compensation duly owing to UILIC, MAP, or MAPI be returned to ONL by BD. Compensation to the BD's Representatives for Contracts solicited by the Representatives and issued by UILIC ONL will be governed by agreement between BD and its Representatives and its payment will be the BD's sole responsibility. In those states where express assignment of commissions is required, BD hereby assigns its representatives' commission commissions to its affiliated insurance agency for those states. BD will not pay any compensation to an agent licensed pursuant to this Agreement until such agent is authorized to receive such compensation under applicable state lawslaw.